Company News

CSPC Phase 3 Ethylene Project Signed the Strategic Cooperation Framework Agreement

Issue Date:2020-05-18
On May 17, CSPC Huizhou Phase 3 Ethylene Project held the "Cloud Signing" Ceremony of the strategic cooperation framework agreement in Guangzhou, Beijing and Hague. Li xi, party secretary of Guangdong province, Ben van Beurden, CEO of Royal Dutch Shell, Wang Dongjin, party secretary and chairman of CNOOC, attended and witnessed the signing.

Phase 3 Ethylene Project includes 1.5 million tons/year ethylene plant as the core of 14 sets of world-class scale production plant, introduces international advanced technology production with high added value, high differentiation and competitiveness of high quality petrochemical products, to meet the needs of new high performance chemical materials and high-end chemicals market and development of Guangdong-Hong Kong-Macao Greater. The main products of the project include ethylene, propylene, butadiene, ethylene oxide/ethylene glycol, styrene monomer propylene oxide, linear alpha olefin, poly alpha olefin, metallocene polyethylene, etc., which are widely used in the fields of medical health, architecture, textiles, packaging, transportation and electronics, etc.
 
The signing and settlement of the project fully reflects the strong confidence of leading enterprises in the global industry in China's economic development, which will vigorously boost the construction of a world-class petrochemical base in the Guangdong-Hong Kong-Macao Greater, further enhance the competitive advantages of the Bay, and enhance energy supplement and industrial support for Guangdong province.
Wang Dongjin said in his speech, CSPC Phase 3 Ethylene Project strategic cooperation framework agreement signing, marks CNOOC, Shell, Guangdong and Huizhou once again produce fruitful results of cooperation, which is of great significance to promote the construction of Daya Bay world-class petrochemical base, green power quality development of petrochemical industry in China.
 
"Our growth strategy is based on long-term chemical demand," said Thomas Casparie, global President of Shell Chemicals. "We have been very selective in our investments and this agreement underlines Shell's confidence in the fundamentals of its chemicals business and our strategic partnership with CNOOC and the Huizhou government."
 
CSPC (Nanhai Petrochemical Project) is the largest operating single ethylene production plant in China with a total ethylene production capacity of 2.2 million tons per year. CSPC ‘s two phases of project have started up respectively in 2006 and 2018, supplying more than 6 million tons of high-quality and diversified petrochemical products to the market each year.
Since its establishment, CSPC is committed to implementing a strategy of sustainable development and fulfilling the commitment of Responsible Care®. CSPC always has Health, Safety and Environment as the top priority, striving for the vision “To Be the Best Petrochemical Company in China”, maintaining a strong track record of reliable and safe operations, environmental protection, energy saving and social responsibilities, and achieved good business and social performance, while making contributions to the social and economic development of the local society.